Commodities
Copper Traders Rush Metal to Hawaii to Capture Mega Tariff Trade
In Chile, the key supplier of copper to the US, mining companies have been huddled in meetings to discuss how to prioritize shipments to the US through the end of July.
Photographer: Cristobal Olivares/BloombergCopper traders racing to get cargoes into the US are looking to shift deliveries into Hawaii and Puerto Rico to cut shipment times, as Donald Trump’s plan for 50% tariffs threatens to slam the door on a hugely profitable arbitrage trade that has gripped the industry for months.
New York futures spiked to a roughly 25% premium over international benchmark prices in the wake of Trump’s initial announcement on Tuesday, which means traders who can deliver metal into the US before the new levies stand to capture an even larger profit — or face big losses if the clock runs out.